DEEC & EPCG Scheme - Manufacturer - Exporters exempted from furnishing Bank Guarantee - Bond form prescribed

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....le to EPCG Licences issued after 1.4.1995. 2. The exemption from furnishing Bank Guarantee shall be available provided the following conditions are fulfilled : (i) Where he has been already issued an EPCG Licence, and is having a turnover of Rs. 1 crore or more in the preceding financial year; (a) he must also have a record of having achieved the export obligation specified in the EPCG notification(s); or (b) if the export obligation has not expired, the Exporter has not defaulted on the export obligation specified in EPCG for the block period in any licence(s) as prescribed in the relevant Customs notification(s). (ii) for a licence holder who has no previous licence issued under EPCG Scheme, he must have export turnover of Rs. 1 ....

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............having our registered office at .......................... hereinafter referred to as the obligor(s) and ..........................called the surety (ies) (which expression shall, unless repugnant to the context or meaning thereof include our heirs, successors, executors, administrators, liquidators, legal representatives and assignees) hereby hold and firmly bind overselves jointly and severally upto the President of India, acting through the (jurisdictional Assistant Commissioner of Customs) Department of Revenue, Ministry of Finance, Government of India, hereinafter referred to as 'the Government' in the sum of Rupees.............................. only for which payment to be well and truly made, I/we, the obligor(s) bind myself ....

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....produce evidence of having so fulfilled the export obligation within 30 days from the expiry of the specified export obligation period to the satisfaction of the Government. 4. In the event of failure to fulfil full or part of the export obligations as specified in the said notification and the licence, I/we, the obligor(s), herein undertake to pay the Customs duty but for the exemption and also interest @ 24% per annum thereon forthwith and without any demur, to the Government. 5. I/we, the obligor(s), shall comply with the conditions and limitations stipulated in the said Import and Export Policy as amended from time to time. 6. I/we, the obligor(s), shall not change the name and style under which we, the obligor(s), are doing business....